An Unexpected Discovery of a Good Property

There could not have been a more desirable property for Daibiru. That’s because Saigon Tower was situated in the heart of the diplomatic and business district on one of the city’s most prominent thoroughfares, which started at Reunification Convention Hall in downtown Ho Chi Minh City. One reason that the building was highly regarded by foreign firms among the grade A buildings of Ho Chi Minh City was because its tenants included numerous major global corporations.

The reason Daibiru chose Vietnam to kick off its international operations in the first place was mainly because of the country’s ongoing high economic growth, as it was the third most populous country in Southeast Asia with about 89 million, of which about 60% were young people of age 30 or less. In addition to this, Daibiru took into account the fact that its parent company Mitsui O.S.K. Lines had operations in the country and that Vietnam was friendly toward Japan with a peaceful civil society and hardworking populace. It was fully expected that it would not be easy to develop business in a socialist country where Daibiru had no previous experience of acquiring buildings. However, the decision to expand into Vietnam was made from the standpoint that no challenge is without risk.

The collection and survey of information at Daibiru began in 2007, and in March 2011, a representative office was set up to conduct a full-scale study. Due to these persistent efforts, there was information that we could really dive into.